Publisher one

Genie AI

Jurisdiction

England and Wales

Contract party

Relevant sectors

Type of legal document

📁 Standby letter of credit

Business activity

Issue letter of credit

Why use a 📁 Standby letter of credit?

A standby letter of credit is a type of financial guarantee that is typically used in international trade transactions. The standby letter of credit provides the buyer with a guarantee that if the seller does not perform according to the terms of the contract, the buyer will be able to draw on the letter of credit to obtain a refund.

A Standby Letter of Credit Contract under UK law is a legally binding document that outlines the terms and conditions between two parties in which one party, usually a lender or financial institution, promises to honor payment obligations on behalf of another party, typically a borrower or debtor. This contract provides a guarantee to the beneficiary, such as a supplier or seller, that they will receive payment in the event that the applicant fails to fulfill their financial obligations. The Standby Letter of Credit serves as a backup mechanism that assures the beneficiary that they will be compensated if a specified event or breach occurs as defined in the contract. This legal template aims to establish the responsibilities, rights, and obligations of the involved parties, ensuring compliance with UK laws and regulations governing Standby Letters of Credit. It may cover crucial elements such as the terms for issuing the Standby Letter of Credit, the conditions triggering the beneficiary's entitlement to draw upon it, the governing law and jurisdiction, dispute resolution mechanisms, and any necessary disclosures, warranties, or indemnities.

How it works

Create doc / use template

Chat to our AI Legal Assistant

Edit, collaborate & share

Export to .docx

PRODUCT HUNT
#1 Product of the Day

Try using Genie's Free AI Legal Assistant

Generate quality, formatted contracts with AI

Can’t find the right template? Create the bespoke agreement in minutes by conversing with our AI and tailoring to your needs

Let our Legal AI make 
edits for you

Ask Genie to edit your document in the same way you’d ask a paralegal. Genie makes track changes, and explains its thinking just like a junior lawyer would.

AI review

Can’t find the right template? Create the bespoke agreement in minutes by conversing with our AI and tailoring to your needs

See Genie AI in action

Book your personalised demo now

Schedule a live, interactive demo with a Genie expert
Understand the most valuable features of Genie based on your workflow
Find out exactly how your business will benefit, from hours saved to faster revenue



Click here to book your personalised demo now.

Thank you for requesting a demo. You can book one immediately using the following link if you'd like to: https://bit.ly/GenieAIDemo

If you'd like to, you can now fill in our ROI calculator - you'll get instant results, which we'll use to make your demo even more specific.

Calculate now
Oops! Something went wrong while submitting the form.



Click here to book your personalised demo now.

Similar legal templates

Notice To Vacate Commercial Property From Landlord

The legal template "Notice to Vacate Commercial Property From Landlord under UK Law" is a formal document used by a landlord to communicate to a tenant their requirement to vacate the rented commercial property within a specified timeframe as stipulated by the tenancy agreement or relevant legal provisions. This legally binding notice is applicable under UK law and serves as a precursor to initiating eviction proceedings if the tenant fails to comply. The template contains crucial information, such as the parties involved, property address, specified date of termination, and any additional requirements or conditions that need to be fulfilled before vacating the premises. The document ensures that the landlord adheres to the legal processes surrounding commercial tenancies and provides the tenant with clear instructions to vacate the property in a timely manner.
Read More

Publisher

Genie AI

Jurisdiction

England and Wales
TEMPLATE
USED BY
10
RATINGS
3
DISCUSSIONS
3

Standard Public Procurement Notice To The Official Journal (Notifying A Tender)

This legal template refers to a Standard Public Procurement Notice that is intended to be published in the Official Journal, as per the requirements under UK law. The template is specifically designed to notify interested parties about an ongoing tender process, typically conducted by a public sector organization or government agency.

The purpose of this template is to ensure transparency and provide equal opportunities to all potential suppliers, contractors, or service providers who may wish to participate in the procurement process. By publishing this notice in the Official Journal, the procuring entity aims to attract competitive bids from qualified candidates to fulfill its specific requirements within a given timeframe.

The template may include various essential details such as the procuring entity's name, contact information, and brief background information about the project or service needed. It will specify the nature and scope of the procurement, including the desired goods, works, or services to be provided. Additionally, any necessary eligibility criteria, specific procedures, or requirements for submitting bids will be outlined.

Furthermore, this template will also specify important deadlines, such as the deadline for submitting expressions of interest, the date for the prequalification phase (if applicable), and the final deadline for submitting tender proposals. It may also include information regarding the evaluation criteria that will be used to assess and compare the received bids. Timelines for evaluation, notification of results, and contract awarding may also be included, ensuring transparency and fairness throughout the entire procurement process.

Overall, this legal template provides a standardized format for notifying interested parties about the existence of a tender opportunity, outlining key details, requirements, and timelines in accordance with UK law. It facilitates a fair and transparent public procurement process, encouraging competition and enabling qualified suppliers or service providers to participate and secure contracts with the procuring entity.
Read More

Publisher

Genie AI

Jurisdiction

England and Wales
TEMPLATE
USED BY
10
RATINGS
4
DISCUSSIONS
3

Section 25 Notice From Landlord To End A Business Tenancy (Commercial Lease)

This legal template, the Section 25 Notice From Landlord To End A Business Tenancy (Commercial Lease) under UK law, outlines the provisions relevant to terminating a business tenancy agreement between a landlord and a tenant. A business tenancy refers to the lease of a commercial property that is primarily used for business purposes.

The purpose of this template is to formalize the landlord's intention to terminate the tenancy, providing the tenant with a written notice as required by Section 25 of UK law. The notice period and other details mentioned in this template would comply with the specific requirements outlined in the legislation.

The section 25 notice serves as a crucial legal document to initiate the process of ending the commercial lease. It may specify the reasons for termination, such as the landlord's intention to refurbish the premises, sell the property, or occupy the space themselves. Additionally, the template may include details regarding any outstanding rent or obligations that need attention before the termination date.

By utilizing this template, landlords can ensure compliance with legal procedures, safeguard their rights, and provide relevant information to the tenant. Likewise, tenants can refer to this notice as a legitimate document to understand the specific terms and conditions surrounding the termination of their commercial lease.
Read More

Publisher

Genie AI

Jurisdiction

England and Wales
TEMPLATE
USED BY
12
RATINGS
4
DISCUSSIONS
1